Budgetting
A plan for how you'll spend and save your money.
What is a budget?
These jobs are often more flexible because they work around your class schedule.
What are campus jobs?
Money you borrow for school that usually must be repaid.
What is a student loan?
Money set aside for unexpected expenses.
What is an emergency fund?
Using this instead of rideshares can save money.
What is the MBTA (the T)?
This expense should be paid before spending money on entertainment.
What are necessities (rent, food, books, transportation)?
Experts recommend many full-time students work about this many hours per week.
What is 10–15 hours?
This is the extra money charged for borrowing.
What is interest?
True or False:
A credit card is free money.
False.
Name one free activity in Boston.
Possible responses:
You earn $150 and spend $175.
What is overspending?
Name one benefit of working while in college besides earning money.
True or False:
You have to borrow every dollar you're offered.
False.
Accept only what you need.
Name one thing that helps build good credit.
Possible responses:
True or False:
Your student ID may qualify you for discounts.
True.
Name one reason it's important to track your spending.
True or False:
Working less hours always means better grades.
False.
Most federal student loans have this period after graduation before repayment begins.
What is the six-month grace period?
What happens if you only make the minimum payment on a credit card?
You'll pay more interest and take longer to pay it off.
Eating out every Friday is fun, but what can help keep it affordable?
Possible responses:
You unexpectedly need $200 for textbooks. What are two smart ways to handle this?
What is one skill employers value besides experience?
Name one option if you're struggling to make your federal student loan payments.
What's one financial habit you should start during your first semester?
Possible responses:
Name three ways to enjoy Boston without spending much money.